Less than two months after releasing enhancements to its Mobile App and Online Banking, CIBC FirstCaribbean has been named the Most Innovative Bank in the region at the prestigious World Finance Banking Awards awarded by UK-based World Finance magazine. Photo: Provided

According to a press statement released on July 23, 2018, the bank is the only Caribbean-based Bank to have been recognized at this year’s event.

“We are delighted to have won this prestigious award,” said Trevor Torzsas, the bank’s Managing Director, Cards and Customer Relationship Management.“The award is a testament to our commitment and relentless efforts atleveraging emerging technologies to make banking easier for our clients.”

Earlier this year, CIBC FirstCaribbean revamped its mobile banking app to include services that are built on Visa technology – namely, mobile location confirmation and “Freeze Mycard” service. These features were the first of their kind to be introduced within the Caribbeanby a bank. Through the app, clients can also easily checktheir account balances, transfer funds between accounts or to other CIBC FirstCaribbean clientsand pay bills, all from their mobile device.

More recently, the bank launched an upgraded Online Banking system that allows its clients to bank online with the highest level of reliability and security. For example, clients cannow schedule domestic and international payments online with stronger security through 2-step verification and real-time alert features.

According to Torzsas, new technologies play a vital role in allowing the bank to pursue its digital strategy. "Our success could not have been possible without our investment in technology. Technology remains one of our top priorities as a bank and it has allowed us to deliver on our promise of “banking that fits your life” by responding to client feedback and creating solutions that allow them to bank when and how they want. What is even more exciting is that our digital transformation has been well received by our clients who continue to engage with us more through these digital channels.” 

The World Finance Banking Awardis one of the most respected accolades in the banking and financial services sector globally. World Financemagazine has been celebrating achievement, innovation and brilliance in banking and finance since 2007.